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      03-23-2009, 12:50 AM   #13
harpoon
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Drives: e92 M3
Join Date: May 2008
Location: Syd

iTrader: (1)

I heard a story recently which shows how bad the second hand car market is. I heard it second hand so it was fairly reliable (i.e not 15th hand).

A guy had a friend who was a prestige used car dealer. He asked the dealer to keep an eye out for a good value low kms e46 M3.

A couple of months later a guy comes to the dealer with a maserati quattroporte. He says I need to sell this today. The dealer says - Mate, I got more cars than I can sell - sorry no interest. The guy says I need the cash today. The delaer says mate I can't - too much inventory. The guy says - please I am getting margin called. I need the cash today. Dealer says ok - 90k is best I can do. Guy goes Fuk...ok done...

Dealer calls the m3 buyer and says how bout a 6mth old quattroporte for 110k? M3 buyer says DONE! Snips for him.

Obvioulsy a bit of a one off but still doesn't help the market.

A 2 yr old 599 went for $420k at auction last week. It had 2000kms on it. 700 new!
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